Ep. 29: War & Markets | How a Former Sr. Millennium PM Invests in Equities

In this episode, Doug joins Hyun Hong of The Investment Memo to break down how a buy-side investor is navigating today’s market backdrop.

Doug shares how he thinks about building a variant view, managing risk in uncertain macro environments, and what’s actually driving the current conversation around oil, war, and recession risk.

The conversation also dives into the evolving hedge fund landscape — from pod shop fatigue and talent migration to how analysts and PMs are adapting their process in a world increasingly dominated by macro volatility.

Chapters:

[00:00] Intro

[01:05] Career Path to a Hedge Fund PM

[04:39] What is your Variant View

[06:05] Pod shop Exhaustion? Talent retention & exodus

[07:01] Hedge Fund SMAs

[07:15] Fundamental Equities L/S Analyst

[12:33] War & Oil & Recession

[15:00] oil here for higher & longer? what then?

[18:52] So how do you hedge?

To be continued in Part 2…

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This episode is for informational purposes only and does not constitute investment advice. See full disclosures at: https://www.pitchthepm.com/disclaimer

This episode originally appeared on The Investment Memo and is redistributed with permission.

EP029: War & Markets | How a Former Sr. Millennium PM invests in Equities

Pitch The PM

EP029: War & Markets | How a Former Sr. Millennium PM invests in Equities